Tax Planning for Purchases and Sales of Property: Part 1 (Currently Unavailable)

Author: Greg White

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Join expert, Greg White, CPA, as he covers important tax planning ideas for property purchases and sales. We’ll cover key concepts like increasing tax deductions on the purchase of property and descreasing tax on the sale of property.

Publication Date: May 2022

Designed For
New and experienced practitioners.

Topics Covered

  • Federal Tax: Advantages of Property
  • Beginning Tax Basis
  • Making Allocations Easier: Written Allocation Agreements
  • Purchases of Partnership Interests
  • Capitalizing Acquisition Costs: Tangible Property (Except Purchase of Assets of a Business)
  • Synthetic Step-ups: Purchasing Interest in S Corp
  • Real Estate: Slicing Up The Purchase Price
  • Super Fast Depreciation
  • TCJA and Bonus Depreciation
  • Qualified Improvement Property
  • §179 Qualified Real Property
  • The Basics: De Minimis
  • Improvements and the De Minimis Rules
  • The Mystery of the 2 Depreciating Roofs
  • Buildings ̶ Improvements vs. Repairs

Learning Objectives

  • Identify tax rates that can apply to sales of property
  • Identify advantages and disadvantages of written allocation agreements
  • Identify strategies to increase tax deductions on the purchase of property
  • Recognize advantages of property
  • Identify which IRC Code Section prescribes the requirements for property received by gift
  • Identify the second step in the purchase and sale of real estate
  • Identify the approximate cost of a questionnaire cost segregation study
  • Identify the number of hurdles required to be cleared with respect to repairs

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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